The Surge of ZEC and ICP Amidst XRP’s Challenges: A Weekly Recap

Here’s a look at the recent developments related to XRP, ZEC, and ICP.

XRP at a Crossroads

The past week has been quite dynamic for Ripple. Despite completing a $500 million funding round and partnering with Mastercard, XRP’s price has struggled against a broader market downturn. Its price fluctuated to nearly $2.40 after the news but has since retreated to approximately $2.20, marking a 12% drop this week.

XRP Price XRP Price, Source: CoinGecko

Market trends and heavy sell-offs, particularly a notable offloading of 900,000 XRP by large holders, have affected its value.

Analysts’ Perspectives: IncomeSharks suggested that investors might soon find opportunities to purchase XRP below $2. In contrast, Mikybull Crypto and Kamran Asghar offered a more positive outlook, forecasting potential price increases toward $8 and describing the current buying opportunity as one of the best in months.

ZEC on the Rise

Zcash (ZEC) has shown remarkable growth, with its price recently surging to $630—a whopping 350% increase over the past month.

ZEC Price ZEC Price, Source: CoinGecko

Market Capitalization: ZEC’s market cap exceeded $10 billion, surpassing popular cryptocurrencies like Bitcoin Cash and Stellar. Key Price Points: Analyst Ali Martinez highlighted a significant price level at $750, while Crypto Tony predicted a rise beyond $1,000. Former BitMEX CEO Arthur Hayes even mentioned an ambitious forecast of $10,000, although this prediction appears optimistic at best.

ICP’s Impressive Performance

The Internet Computer (ICP) also excelled, with a 170% price increase within a week, recently trading around $7.90.

ICP Price ICP Price, Source: CoinGecko

This surge is attributed to the DFINITY Foundation’s announcement of a new AI platform, further leading to optimistic projections among traders, predicting significant gains in the near future.